State of economy

Posted: Saturday, May 19, 2001

By Associated Press

Here's the economic outlook for Georgia metropolitan areas according to the Georgia State University Economic Forecasting Center:

ATHENS

Unemployment has increased sharply, from 2.3 percent in March 2000 to 3.2 percent this year. Slower growth at the University of Georgia should hold back job growth over the next several years. The labor force grew 2.4 percent over the last year, which is the prime reason for the unemployment growth.

ATLANTA

Payroll estimates indicate that employment grew 2.8 percent last year. Recently, it has slowed sharply to 1.6 percent in March. Atlanta's unemployment rate has increased to 3 percent, from 2.8 percent in March 2000.

ALBANY

Albany's unemployment rate of 5.5 percent in March was the highest in Georgia. The labor force declined modestly over the last year, and continues to decline. Employment gains are likely to be less than 1 percent in 2002 and then increase about 1.1 percent in 2003.

AUGUSTA

Manufacturing jobs increased modestly over the last year, with most of the growth in the printing and publishing sector, which helped to offset losses in the apparel industry. Employment growth is expected to slow below 1 percent this year, before recovering to more than 1.5 percent gains in 2002 and 2003.

COLUMBUS

Outside of construction, goods-producing payrolls were soft. Non-durable payrolls increased modestly, reflecting strong growth in the carpet industry. Employment growth is expected to grow only 0.7 percent in 2001, and then increase 1.8 percent in each of the next two years.

MACON

Manufacturing payrolls are weak, reflecting job losses in both durable and non-durable goods sectors. Service employment continued to grow, but gains in the financial industry have weakened recently. Employment growth will stall this year before getting into the 1.2 percent range in 2002 and 2003.

SAVANNAH

Manufacturing employment remains weak, while service-producing industries increased modestly. Strongest gains were transportation services and public utilities while financial services saw the sharpest declines. Employment growth is expected to increase about 0.5 percent in 2001 and 1 percent over the next two years.

This article published in the Athens Banner-Herald on Saturday, May 19, 2001.